"Foreigner quota"?

[digbeth]

On 3/29/2024 at 10:50 AM, newnative said:

      Just a clarification.  I've seen 'Thai quota' mentioned several times.   There is no 'Thai quota'.  Thais can have 100% ownership in a condo project.  There is ownership in Thai name, ownership in company name, and ownership in foreign quota, which is 49%.  As others have mentioned, it's best to check with the juristic to see how much of the foreign quota of a project is still available, and if that percentage available is enough to cover the size of the condo you are interested in.  

   

 

What do you call a room that's selling in a condo that's had the foreign quota all filled up? for conventions and ease of communication, 'thai quota' is reasonable description 

[newnative]

4 hours ago, digbeth said:

 

What do you call a room that's selling in a condo that's had the foreign quota all filled up? for conventions and ease of communication, 'thai quota' is reasonable description 

    Not really.  'Thai name' would be a better descriptive of the two and the same number of words if you're looking for ease of communication.  But, both neglect company name, another condo buying option.  'Thai quota' is both inaccurate and confusing since there is no Thai quota.  

[scubascuba3]

39 minutes ago, newnative said:

    Not really.  'Thai name' would be a better descriptive of the two and the same number of words if you're looking for ease of communication.  But, both neglect company name, another condo buying option.  'Thai quota' is both inaccurate and confusing since there is no Thai quota.  

Thai quota is correct because it could be thai name or thai company

[newnative]

2 hours ago, scubascuba3 said:

Thai quota is correct because it could be thai name or thai company

       Guess we'll have to agree to disagree.  I find 'Thai quota' incorrect because, first,  there is no such thing.   And, second, if you use the term, it's not precise in the way that you use it.  '...could be thai name or thai company', you say.  Well, which is it?  That's something I would want to know definitively as a buyer interested in a particular condo, not could be this, could be that.  

[DLButler]

12 hours ago, newnative said:

       Guess we'll have to agree to disagree.  I find 'Thai quota' incorrect because, first,  there is no such thing.   And, second, if you use the term, it's not precise in the way that you use it.  '...could be thai name or thai company', you say.  Well, which is it?  That's something I would want to know definitively as a buyer interested in a particular condo, not could be this, could be that.  

I think you make a solid point, and I would be curious to know which it were too if I was investigating a deal, but I have to equally nod to @scubascuba3  because I also believe that whether it's a Thai company or Thai individual, for the purposes of identifying the nationality of Thai entities it's a complete definition.  From the 35000 foot level, it's Thai-owned vs not-Thai owned in the same way it doesn't go into detail about how many non-Thai's are German, Swiss, Australian, Korean, or whatever else.

[digbeth]

Yes, there is no such thing as 'Thai Quota' but if you're advertising a room for sale, would you put down 'not in foreigner quota' or 'thai ownership only' in your description? 

When 'foreigner quota' is an already understood concept, 'Thai Quota' while inaccurate if you're being pedantic is an easy shorthand 

[newnative]

57 minutes ago, digbeth said:

Yes, there is no such thing as 'Thai Quota' but if you're advertising a room for sale, would you put down 'not in foreigner quota' or 'thai ownership only' in your description? 

When 'foreigner quota' is an already understood concept, 'Thai Quota' while inaccurate if you're being pedantic is an easy shorthand 

    I often see something along the lines of  'Thai or company name', which I feel is both short and the most accurate in conveying the ownership choices currently available with the condo.  That is what I would use.   But, I do see Thai quota used, too.

[Captain Monday]

On 3/28/2024 at 11:31 PM, CanadaSam said:

Just to add, foreigner quota condo's are quite often pricier than thai owned ones.

This is because in a Foreigner heavy building in Tourist 

area the foreign quota rule appears to create an economic distortion on the value of the Thai owned units.  

[newnative]

1 hour ago, DLButler said:

I think you make a solid point, and I would be curious to know which it were too if I was investigating a deal, but I have to equally nod to @scubascuba3  because I also believe that whether it's a Thai company or Thai individual, for the purposes of identifying the nationality of Thai entities it's a complete definition.  From the 35000 foot level, it's Thai-owned vs not-Thai owned in the same way it doesn't go into detail about how many non-Thai's are German, Swiss, Australian, Korean, or whatever else.

     Seeing 'Thai quota' would not necessarily tell you the nationality of the seller of the condo.  As I said in an earlier post, it's not a precise term as it does not specify whether the condo is under Thai name or company name.   The company name seller could be any nationality.   Using the term is a short way to convey that foreign quota is not available.

[Dan SG]

Hi all

 

Digging up an old thread and hoping someone can help.  I am interested in purchasing a condo in Bangkok (lets just say it works for me based on present circumstances, so let's try and avoid getting into a debate whether its a good investment or not - I think that's for a different thread).  I have purchased a condo many years ago that was under foreign quote but I think that was because the quota was full.  The condo I am currently interested in is owned by a Thai but the building juristic office have told me they still have foreign quota available so that I am able to purchase.  Is my understanding correct that, it's not as if specific units are designated as foreign or thai quota, it just refers to the percentage of the blocked owned by foreigners? So if I was to purchase from a Thai, and the quota not yet hit, all that would mean is that said unit would come under foreign quota and if I wanted to sell I could sell to anyone - both foreign or Thai; as opposed to a unit owned by a Thai that could only sell to a Thai if the foreign quota had been hit.  Is my understanding right?  If so, I don't really see any disadvantage.

[newnative]

1 hour ago, Dan SG said:

Hi all

 

Digging up an old thread and hoping someone can help.  I am interested in purchasing a condo in Bangkok (lets just say it works for me based on present circumstances, so let's try and avoid getting into a debate whether its a good investment or not - I think that's for a different thread).  I have purchased a condo many years ago that was under foreign quote but I think that was because the quota was full.  The condo I am currently interested in is owned by a Thai but the building juristic office have told me they still have foreign quota available so that I am able to purchase.  Is my understanding correct that, it's not as if specific units are designated as foreign or thai quota, it just refers to the percentage of the blocked owned by foreigners? So if I was to purchase from a Thai, and the quota not yet hit, all that would mean is that said unit would come under foreign quota and if I wanted to sell I could sell to anyone - both foreign or Thai; as opposed to a unit owned by a Thai that could only sell to a Thai if the foreign quota had been hit.  Is my understanding right?  If so, I don't really see any disadvantage.

      There is no 'Thai quota'.  Thais can own 100% of a condo project.   Foreign buyers are limited to 49% of a project's saleable area, in foreign quota.  If foreign quota is full, a foreigner can still purchase a condo in company name.  I would say definitey buy in foreign quota, if it is still available.  There's less hassle with paperwork, no company set-up, etc., and your condo will be easier to sell down the road to another foreigner if it is held in foreign quota.  

[Dan SG]

1 hour ago, newnative said:

There is no 'Thai quota'.  Thais can own 100% of a condo project.   Foreign buyers are limited to 49% of a project's saleable area, in foreign quota.  If foreign quota is full, a foreigner can still purchase a condo in company name.  I would say definitey buy in foreign quota, if it is still available.  There's less hassle with paperwork, no company set-up, etc., and your condo will be easier to sell down the road to another foreigner if it is held in foreign quota.  

Thanks.  I guess you're basically agreeing with what I am saying - if there is quote, even if i buy from thai then I am within the foreign quota and can sell this to both thai or foreigner if I wanted to sell?

[scubascuba3]

2 hours ago, Dan SG said:

Hi all

 

Digging up an old thread and hoping someone can help.  I am interested in purchasing a condo in Bangkok (lets just say it works for me based on present circumstances, so let's try and avoid getting into a debate whether its a good investment or not - I think that's for a different thread).  I have purchased a condo many years ago that was under foreign quote but I think that was because the quota was full.  The condo I am currently interested in is owned by a Thai but the building juristic office have told me they still have foreign quota available so that I am able to purchase.  Is my understanding correct that, it's not as if specific units are designated as foreign or thai quota, it just refers to the percentage of the blocked owned by foreigners? So if I was to purchase from a Thai, and the quota not yet hit, all that would mean is that said unit would come under foreign quota and if I wanted to sell I could sell to anyone - both foreign or Thai; as opposed to a unit owned by a Thai that could only sell to a Thai if the foreign quota had been hit.  Is my understanding right?  If so, I don't really see any disadvantage.

Correct, i bought from thai company name into available foreign quota

[Dan SG]

2 minutes ago, scubascuba3 said:

Correct, i bought from thai company name into available foreign quota

Many thanks

[newnative]

2 hours ago, Dan SG said:

Thanks.  I guess you're basically agreeing with what I am saying - if there is quote, even if i buy from thai then I am within the foreign quota and can sell this to both thai or foreigner if I wanted to sell?

     Yes, a condo bought in foreign quota can be resold to a Thai, or to a foreigner, who would likely keep it in foreign quota.